The industry met 2008 with anxiety that, by year’s end, has not abated – in fact, it has only been amplified.

Early in the new year, fears about the impact of media consolidation on job security and local news were realized in a series of layoffs at Canwest, fresh from its acquisition of the Alliance Atlantis specialty channels. Likely in anticipation of needing to free up some cash for the blockbuster deal, Canwest had also earlier announced the centralization of its local news production in four cities, resulting in a net loss of 150 jobs.

In recent weeks, it’s been déjà vu.

Canwest’s purchase of AA was a natural. Recent fourth-quarter results reinforce the logic: flat revenues and a staggering $1-billion write-down of Canwest’s conventional TV business, compared to ad revenue growth for the newly acquired specialties. But the costly deal, buttressed by Goldman Sachs, has contributed to Canwest’s unwieldy $3.7-billion debt load, a factor in its plummeting stock value. And so, as the year closes, the teetering media giant has announced more layoffs – 210 of them on the broadcast side, and many of those in the news departments at its E1 channels.

But, of course, this time around layoffs are not endemic to only Canwest. It came as a shock to some that CTVglobemedia – the top broadcaster, still feeling its way through its own takeover of the CHUM specialties – would take similar measures, dismissing 105 staffers, many in news and

entertainment news. (Is it coincidence that CTVgm’s number of cuts is exactly half of Canwest’s?)

But, like everybody, the casters are dealing with a recession. One executive at a media-buying agency estimates clients will spend 10% less in 2009.

It’s also nothing new for companies to take the occasion of a downturn to do a little house cleaning. And in this case, both CTVgm CEO Ivan Fecan and his Canwest counterpart Leonard Asper couldn’t help but take a jab at the CRTC, citing the regulator’s denial of their request for fee-for-carriage as a contributing factor – although they had never before relied on this revenue source.

Meanwhile, it’s been two years of uncertainty regarding the Canadian Television Fund, and at this late date clarity remains elusive. Way back in June the CRTC unveiled its recommendation of the CTF adopting a two-tier system – one for would-be hits on the privates, the other for pubcasters – and there has still been no response from Heritage, which grabbed away decision-making powers from the regulator. Since then, the production community has been living on pins and needles that have only grown more painful, given the looming March expiry of the current CTF agreement.

Further complicating matters is possible upheaval in Ottawa. As Playback went to press, the Liberals and the NDP were looking to topple the reigning Tories and form a coalition government. But if the gambit fails and the Conservatives remain in power, who says they wouldn’t take their knives to the fund? And even if they didn’t, but instead decided to implement the CRTC’s two-tier approach, would that give the industry and the folks at the CTF enough time to deal with the changes?

No doubt many in the industry would welcome a Grits-NDP government. But while both parties had plenty to say on the matter of arts funding during the recent election, they might be too busy maintaining their fragile grasp on power and dealing with the capital ‘F’ fiscal crisis to make it a priority. One source close to the situation believes that the only solution in the short term, regardless of who is in power, is to renew the CTF as is for another cycle.

Nonetheless, producers are nervous. What will be the private broadcasters’ appetite for investing in domestic production in the current climate? Already, Canwest’s Asper has expressed the hope that, ahead of next year’s broadcaster licence renewals, the CRTC will loosen obligations imposed upon the casters. (Read: Cancon.)

Against this gloomy scenario, producers press on. This year they proved they could compete with the world’s best, with the likes of CTV drama series Flashpoint and The Listener selling to primetime U.S. network television. Global wishes it had a hit like Flashpoint, and it has commissioned five pilots in search of one. Also in the producers’ corner are benefits-package dollars the casters must spend and the fact that said casters must be on their best behavior ahead of said licence renewals.

And so, from now until that time comes, all eyes will be focused on Ottawa.